Guideline Value for Naval Hospital 11thlane

Naval Hospital 11thlane guideline value

The current guideline value for Naval Hospital 11thlane is Rs 3,300 per sq.ft, effective from 1 July 2024. This street is located in Vepery village, under the Periamet SRO, and is classified as Residential Class III Type - III.

How the guideline value of Naval Hospital 11thlane has changed

The guideline value for Naval Hospital 11thlane has seen several revisions over the years. In 2007, the value was set at Rs 600 per sq.ft, which increased significantly to Rs 3,000 per sq.ft by 2012. However, this figure dropped to Rs 2,010 per sq.ft in 2017. The value then rose sharply to Rs 3,000 per sq.ft in 2023, and currently stands at Rs 3,300 per sq.ft as of the 2024 revision. Notably, the register has no figures for the years 2002 and 2003 for this street.

From 2017 to 2023, there was a notable increase of 49%, while the value saw a decrease of 33% from 2012 to 2017. The most substantial rise occurred between 2007 and 2012, with an increase of 400%. Overall, the guideline value has increased by 450% from 2007 to 2024.

Guideline values in Vepery

In Vepery, there are 290 streets under the Periamet SRO that carry a 2024 guideline value ranging from Rs 2,200 to Rs 22,000 per sq.ft. The median guideline value for the area is Rs 4,800 per sq.ft, making the guideline value for Naval Hospital 11thlane below this median.

• Naval Hospital 10th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 12th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 13th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 14th lane: Rs 3,300 per sq.ft (2024)
• Naval hospital 15th lane: Rs 3,300 per sq.ft (2024)
• Naval Hospital 16th lane: Rs 3,300 per sq.ft (2024)

Stamp duty and registration fee for property in Naval Hospital 11thlane

For a 1,000 sq.ft plot at the current guideline value of Rs 3,300 per sq.ft, the total guideline value amounts to Rs 33,00,000. The stamp duty, charged at 7%, would be Rs 2,31,000, while the registration fee at 2% would be Rs 66,000. Together, these fees total Rs 2,97,000. It is important to note that duty is charged on the higher of the guideline value or the sale price.

For more details, you can use the stamp duty and registration fee calculator.

Which Sub Registrar Office covers Naval Hospital 11thlane?

The Sub Registrar Office that covers Naval Hospital 11thlane is the Periamet Sub Registrar Office, located at 1103, Poonamallee High Road, Chennai-600 003. You can find your SRO for more information.

How the guideline value is used when you buy or sell in Vepery

The guideline value is a critical factor when buying or selling property in Vepery. It serves as a benchmark for determining the minimum value at which a property can be registered. Buyers and sellers must consider this value to ensure compliance with registration requirements.

When a property transaction occurs, the stamp duty and registration fees are calculated based on the guideline value or the sale price, whichever is higher. This ensures that the registration process reflects the true value of the property being transferred.

Frequently asked questions

What is the current guideline value for Naval Hospital 11thlane?

The current guideline value for Naval Hospital 11thlane is Rs 3,300 per sq.ft, effective from 1 July 2024.

How has the guideline value changed over the years?

The guideline value has changed significantly, starting from Rs 600 per sq.ft in 2007 to Rs 3,300 per sq.ft in 2024, marking a total increase of 450% over the years.

What are the stamp duty and registration fees for properties in this area?

For a property valued at Rs 33,00,000, the stamp duty would be Rs 2,31,000 and the registration fee would be Rs 66,000, totaling Rs 2,97,000.

Which office handles property registrations for Naval Hospital 11thlane?

The Periamet Sub Registrar Office handles property registrations for Naval Hospital 11thlane, located at 1103, Poonamallee High Road, Chennai-600 003.

What is the significance of the guideline value in property transactions?

The guideline value is essential in property transactions as it determines the minimum registration value. It is used to calculate the stamp duty and registration fees, ensuring that the property is registered at a compliant value.